Legalos Company makes and sells a single product. It takes seven pounds of direct materials to produce one unit of this product. Budgeted production for the next three months is given below: February March April Budgeted Units to_be Produced 18,500 units 19,200 units 14,300 units The company wants to maintain monthly ending inventories of direct materials that are equal to 45% of the following month's production needs. The cost of direct materials is $1.60 per pound Calculate the total cost of direct materials budgeted to be purchased in February